In 2023, Bear Corporation transfers 100 shares of its stock to its employee Patrick. The stock is valued at \($10\) per share on the issue date. The stock is subject to the following restrictions:

• Patrick cannot transfer the stock by sale or other disposition (except in the event of death) for a five-year period.

• The stock must be forfeited to Bear Corporation if Patrick voluntarily terminates his employment with the company within a five-year period.

In the year 2028, the Bear stock is worth \($100\) per share when the restrictions expire.

a. Assuming that no Sec. 83 (b) election is made, what are the tax consequences to Patrick and Bear Corporation in 2023?

b. What are the tax consequences to Patrick and Bear Corporation if Patrick makes a valid.

c. What are the tax consequences to Patrick and Bear Corporation if Patrick forfeits the stock back to the company in 2024 when the stock is worth \($20\) per share if an election.

d. What are the tax consequences to Patrick and Bear Corporation upon the lapse of the restrictions in the year 2028 if an election has been made under Sec. 83(b)? What would the results.

e. What are the tax consequences to Patrick and Bear Corporation if Patrick sells the Bear stock in the year 2029 for \($120\) .